First time doing a jam requiring a source code, just curious on the reasoning. Is it for educational purposes or something, I always heard game jam coding was typically rushed and a poor study tool. Also any game submitted still remains the property of the dev/team and not some form of open source right? Sorry not trying to sound like a nut just curious on the reasoning.

My best guess is that gamedev.tv is looking for ideas for new courses. Rushed and buggy games might be exactly the right thing - so they can devise a course on how to build certain games properly.

Also any game submitted still remains the property of the dev/team and not some form of open source right?

I think you're mixing things up. Publishing anything as an open source doesn't mean it's not your property. 

To me, it looks like they want ppl to be able to check how something was achieved. Yes, that's right any hackathon-like code isn't a good way to learn anything ;) but still.